Most Americans live paycheck to paycheck

a reply to: ufoorbhunter

Oh don't get me wrong I'm doing okay and at least every year the minimum wage is going up to a livable level here in the UK.
But I learnt long ago money doesn't make you happy but it does take a few worries outa life.

a reply to: toysforadults

It's only going to get worst since colleges and universities are strapping this young generation with enormous debt! They have no disposable income left to put back into our economy, save for their retirements or buy a home. I've said it before, this will be one of the main reasons that will cause the U.S. economy to crash. If young people have no spendable income, it will directly effect businesses, the real estate and stock market.

Add to it, the continuing increase in taxes and unrealistic non-livable minimum wage causing many to rely on the government to help feed their families. The rate of inflation consuming up family paychecks and out of control military spending. Corporate greed that values excessive profits and multi-million dollar CEO paychecks rather than valuing their employees who contribute to their success.

All contribute to a recipe for an economic disaster.

a reply to: seasonal

There are so many good no longer manufactured in the US. I agree. Lied to. By lawyers lining their pockets from multinational corporations... oh, I mean senators. Hey! Ain't that the same thing??

The end of manufacturing can only be equaled by the end of the industrial age (i.e., big oil).

Both happening with no replacement is insanity. There is nothing to fall back on. And at the end of the day, no material goods proving that you did something.

I really wonder is happening. It is the death throes for coal and oil. I can only guess that nuclear fusion has already been figured out. "How do you make money off of that?" seems to be what they are trying to figure out. In the end, you can't. Then money disappears. Then what? IDK.

What will the end game be??

Wages have not kept up with the cost of living in any sense of the word. Go to a grocery store and look at the packaging. We pay as much or more for less product.

Also, there's also the problem of companies raising cost every time minimum wage is increased to maintain same level of profits. Until price gouging by corporations, the situation isn't going to be remedied.

Of course, there's also a matter of people living above their means. However, that's a whole other topic entirely.

When I made $7.25/hr, I didn't live paycheck to paycheck.

Now that I make a good bit more than that, I still don't live paycheck to paycheck.

I keep low debt. I don't feel the need to buy things I don't need with money I don't have to impress people I don't like.

If you can't exert self-control, I find it hard to have pity for you. If you have a roof over your head, a vehicle, a TV, and a cell phone, you are NOT poor.

Live within your means. Personal finances are no longer taught in this country, save for by the banks. No conflict of interest there...

I have challenged several friends with money problems to let me design a budget for them, some who made six figures. I always found plenty of luxuries to cut.

It's not a wage problem, it's a willpower problem.

Inability to put off satisfaction for a greater reward later is a sign of immaturity. I see it all the time, both in my generation ( X ), and in many younger people.

originally posted by: SpeakerofTruth
Wages have not kept up with the cost of living in any sense of the word. Go to a grocery store and look at the packaging. We pay as much or more for less product.

Also, there's also the problem of companies raising cost every time minimum wage is increased to maintain same level of profits. Until price gouging by corporations, the situation isn't going to be remedied.

Of course, there's also a matter of people living above their means. However, that's a whole other topic entirely.

The corps don't have near as much to do with it as the moneychangers, the Federal Reserve.

Also time is way more precious than money.

originally posted by: WeRpeons
a reply to: toysforadults

It's only going to get worst since colleges and universities are strapping this young generation with enormous debt! They have no disposable income left to put back into our economy, save for their retirements or buy a home. I've said it before, this will be one of the main reasons that will cause the U.S. economy to crash. If young people have no spendable income, it will directly effect businesses, the real estate and stock market.

Who forced the young people to get that debt? Was a gun held to their head?

I hold a GED. I make 10% more than the median household income of my state by myself. This doesn't include my wife's income.

I saw no benefit to a college degree. I didn't have a degree in mind for what I wanted to do. I wasn't willing to take on debt without a goal in mind. Now I have a much higher net worth than my friends who went to college and don't use their degrees.

The supply of Labour is a huge part of the problem - more people going for each job - the success of immigration is the destruction of salaries.
Before anybody accuses me of racism etc - I married an immigrant and I employ many.

We are neo-serfs. Soon, automation and AI will replace all jobs.

We could make life however we want it to be, though we settle for letting the few benefit from the labor of the many.

Capitalism with restraints, planning and a socialist base to work up from is not a bad idea, despite the propaganda to the contrary.

We just have to do it. Whatever we can think of, we can do.

We could make life on Earth amazing for everyone.

Some weeks its paycheck to digging in the couch for change waiting on that next paycheck.

I make decent $ and still feel broke all the time. Shi is just to expensive these days.

Why a six-figure income is not enough for many in the U.S.

That's a $100,000 grand a YEAR.

Good hell.

Definitely living beyond ones means if they are whining bout money.

originally posted by: ScepticScot

originally posted by: seasonal
a reply to: ScepticScot


It should be fairly obvious that globalization is not to give the consumer better products at better prices. It is about making more $$$$.
Any third world country that is used as a manufacturing hub is slow (or quickly) becoming a slave filled toxic waste dump. From textiles to shrimp, if it is imported from a 3rd world country-it is supported with poor pay and suicidal environmental policy. The true cost of product is hidden.

Absolutely.

I am actually a firm believer that international trade can and should benefit everyone involved. However the current model we have is massively exploitive and benefits a small minority.

Yes its still going to be a buy/manufacture low, sell high as you can, even if consumers think its a low price. We the consumer are sold on the idea with wash slobber about helping the 3rd world man and other such playing on heart strings. Or any string for that matter just get end game consumers minds off the fact that its cheep labor, fiat money and nation building, like whats happened to Mexico and China over the last 3 decades.

a reply to: Baddogma


Yes in many ways capitalism more and more is resembling a type of feudalism. What it has done to society looks more and more like a feudalism with the biggest siphons on the working class demanding the greatest ass kissings from same while the government supplements the show at, you guessed it, working class expense.

originally posted by: BlueJacket
a reply to: TEOTWAWKIAIFF

Yes sir...thats it. I buy everything except cars and house with cash...and if i had it to do over...id not of bought our new vehicles...total waste

When I buy something, I pay it in full. Car: paid off Credit Cards: no balance. The only major debt I have is school loans, and wow, is it a doozy unfortunately. I am also preparing as much as possible for retirement. My paycheck has the most I am allowed to remove pre tax to put into my 401k.

If I continue to save at this rate, and the market doesnt fall apart, I should have over 750,000 to retire on. The only trade off is that my take home is significantly less than it could be......so sometimes I do not have a huge margin for error. But I will take that, to ensure a comfortable retirement.

originally posted by: subfab
a reply to: toysforadults

the problem isn't the wage a person earns.

the problem is from poor financial decisions.
credit cards being used to buy the latest 4k television, vacation, dinners, designer clothes and other items that are simply not needed.

there are only two debts i can see that are reasonable. first is a mortgage the second is an education.

i've been debt free for over five years. i live comfortably on my meager salary. once you let go of the mind set of "keeping up with the neighbors", overall quality of life becomes better.

The fact this post had no stars until I starred it is a pretty good summary of most people's financial problems. Can't possibly be my fault I waste most of my paycheck on # I don't need. Blame the rich, blame capitalism, blame whitey, somebody is keeping me down.

This is anecdotal but I'll just tell you about my time in the service to anyone that wants to listen. When you become a supervisor in the Air Force they basically expect you to be a life coach for the lower ranking enlisted guys. Keep in mind most of the lower ranking guys/girls are late teens, early 20s, never been out on their own, and have no idea how to manage money. The lower ranks don't get paid very well and a lot of these kids go through tough financial times. The supervisors a lot of times end up acting as financial advisors.

I can't begin to guess how many people I gave financial advice to over the years, but I can honestly say the vast majority of them weren't being held down by THE MAN they were being held down by their own lousy decisions. Do you absolutely need the size home you're renting? Do you absolutely need the kind of car you've got? Do you absolutely need to spend as much as you do every weekend on [insert commodity here]?

This isn't just limited to the military either. Most of the people I grew up with aren't military, a lot of them went to college. Different kinds of people but for the most part still making the same poor financial decisions and wondering why they have no money.

There are people who genuinely struggle but as several have said lack of financial discipline is most folks' problem.

originally posted by: neo96

Why a six-figure income is not enough for many in the U.S.

That's a $100,000 grand a YEAR.

Good hell.

Definitely living beyond ones means if they are whining bout money.

I make low 6 figures, and after paying the monstrous school loan payment and professional liability insurance, there isnt as much as one would think remaining.

originally posted by: cynicalheathen

originally posted by: WeRpeons
a reply to: toysforadults

It's only going to get worst since colleges and universities are strapping this young generation with enormous debt! They have no disposable income left to put back into our economy, save for their retirements or buy a home. I've said it before, this will be one of the main reasons that will cause the U.S. economy to crash. If young people have no spendable income, it will directly effect businesses, the real estate and stock market.

Who forced the young people to get that debt? Was a gun held to their head?

I hold a GED. I make 10% more than the median household income of my state by myself. This doesn't include my wife's income.

I saw no benefit to a college degree. I didn't have a degree in mind for what I wanted to do. I wasn't willing to take on debt without a goal in mind. Now I have a much higher net worth than my friends who went to college and don't use their degrees.

It's not that they aren't using their degrees, they aren't using their talents. I'm like you in a way, although I did have to go to college to qualify for 3 California state licenses, I just took the required course, forget the BS classes. Anyway, I really consider myself to have a solid 4th grade education. With that, I ended up in Japan when the economy crashed in 1990-91. Just got to have the "will power" and think what is best at the present time in ones life. I'm now thinking of re-entering the work -force, just made my business cards.

a reply to: Logarock

Yeah it's feudalism except for the small fact that nobody is forcing you at gunpoint to give all your money to Apple and Amazon. Other than that, yeah totally feudalism.

a reply to: toysforadults

It has been this way for awhile, but it runs on an exponential system. What I think the root cause of it is, is the way we calculate CPI, which in turn calculates the inflation rate for the year, and that's where returns on investments and COLA's come from.

We changed that back in 1980, about the time this started to be a problem. Fixing it now, will take 40 years to reverse the pain.